"Imagine that the global economy is like the Titanic, which hit the iceberg. At the lower levels, people are in water up to their necks, while on the upper floors the music still sings and people don’t know that the ship hit an iceberg and still listen to music. Those people are here, in Romania. That's a lot like our situation", said Prime Minister Calin Popescu Tariceanu, quoted by Antena 3.

In today's session, the Government will decide the way to block the teachers' wage increase law, promulgated by president Traian Basescu on Friday.

The Prime Minister accused the political class of lack of responsibility and of following nothing but the electoral campaign results.

Tariceanu also announced that some of the administration spending will be frozen. Moderate wage growth may be expected in 2009, Tariceanu said.